Massmutual Trust Co. FSB ADV Has $156,000 Position in Shopify Inc. (NYSE:SHOP)

Massmutual Trust Co. FSB ADV lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 22.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019 shares of the software maker’s stock after purchasing an additional 369 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Shopify were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHOP. Envestnet Portfolio Solutions Inc. acquired a new stake in Shopify during the 3rd quarter worth $1,492,000. Envestnet Asset Management Inc. grew its holdings in Shopify by 17.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 827,520 shares of the software maker’s stock worth $45,158,000 after acquiring an additional 124,266 shares during the period. Acadian Asset Management LLC grew its holdings in Shopify by 49.4% during the 3rd quarter. Acadian Asset Management LLC now owns 9,340 shares of the software maker’s stock worth $509,000 after acquiring an additional 3,089 shares during the period. Mariner LLC grew its holdings in Shopify by 3.5% during the 3rd quarter. Mariner LLC now owns 242,532 shares of the software maker’s stock worth $13,235,000 after acquiring an additional 8,265 shares during the period. Finally, Northern Trust Corp grew its holdings in Shopify by 4.3% during the 3rd quarter. Northern Trust Corp now owns 538,465 shares of the software maker’s stock worth $29,384,000 after acquiring an additional 22,315 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.8 %

Shares of SHOP stock opened at $65.04 on Friday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $64.57 and its 200-day moving average is $73.25. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. As a group, equities research analysts forecast that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. Evercore raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, June 14th. Wells Fargo & Company decreased their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Barclays decreased their price target on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, May 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Shopify in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.39.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.